Swiss National Bank Sells 289,300 Shares of Bristol-Myers Squibb (NYSE:BMY)

Swiss National Bank lowered its stake in Bristol-Myers Squibb (NYSE:BMY) by 4.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,727,400 shares of the biopharmaceutical company’s stock after selling 289,300 shares during the period. Swiss National Bank’s holdings in Bristol-Myers Squibb were worth $323,942,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of BMY. Truist Financial Corp raised its position in shares of Bristol-Myers Squibb by 3.9% in the 4th quarter. Truist Financial Corp now owns 1,597,150 shares of the biopharmaceutical company’s stock valued at $90,335,000 after buying an additional 60,365 shares in the last quarter. Contravisory Investment Management Inc. acquired a new position in Bristol-Myers Squibb during the fourth quarter valued at approximately $488,000. Inspire Trust Co. N.A. lifted its stake in Bristol-Myers Squibb by 39.0% during the third quarter. Inspire Trust Co. N.A. now owns 103,500 shares of the biopharmaceutical company’s stock worth $5,355,000 after purchasing an additional 29,044 shares during the last quarter. Sheaff Brock Investment Advisors LLC boosted its holdings in shares of Bristol-Myers Squibb by 34.3% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 44,546 shares of the biopharmaceutical company’s stock valued at $2,305,000 after purchasing an additional 11,387 shares in the last quarter. Finally, iA Global Asset Management Inc. increased its stake in shares of Bristol-Myers Squibb by 81.3% in the 3rd quarter. iA Global Asset Management Inc. now owns 76,775 shares of the biopharmaceutical company’s stock valued at $3,972,000 after purchasing an additional 34,418 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on BMY. Wells Fargo & Company upped their price objective on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Bank of America reissued a “neutral” rating and set a $63.00 target price on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Daiwa Capital Markets raised shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 13th. Jefferies Financial Group raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and increased their price objective for the company from $63.00 to $70.00 in a research note on Monday, December 16th. Finally, Truist Financial raised their target price on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $57.86.

Bristol-Myers Squibb Stock Down 2.7 %

Shares of NYSE:BMY opened at $59.83 on Thursday. The firm has a market cap of $121.40 billion, a P/E ratio of -13.54, a P/E/G ratio of 2.07 and a beta of 0.43. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $63.33. The business has a fifty day simple moving average of $57.69 and a 200 day simple moving average of $55.41. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. Analysts predict that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 4th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date of this dividend is Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is currently -56.11%.

Insider Transactions at Bristol-Myers Squibb

In other news, EVP Samit Hirawat bought 1,823 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were acquired at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the completion of the acquisition, the executive vice president now directly owns 63,932 shares in the company, valued at approximately $3,506,030.88. This represents a 2.94 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.09% of the stock is currently owned by corporate insiders.

Bristol-Myers Squibb Company Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.